Student Loan Calculator
Solve student loan payments, accelerated repayment, and the effect of borrowing before graduation.
Show the regular monthly student loan payment and amortization schedule.
Result
- Principal
- Interest
Calculation details
Scroll horizontally or vertically to see more. Download CSV for the complete schedule.
| Period | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | 1,110.21 | 500 | 610.21 | 99,389.79 |
| 2 | 1,110.21 | 496.95 | 613.26 | 98,776.54 |
| 3 | 1,110.21 | 493.88 | 616.32 | 98,160.22 |
| 4 | 1,110.21 | 490.80 | 619.40 | 97,540.81 |
| 5 | 1,110.21 | 487.70 | 622.50 | 96,918.31 |
| 6 | 1,110.21 | 484.59 | 625.61 | 96,292.70 |
| 7 | 1,110.21 | 481.46 | 628.74 | 95,663.96 |
| 8 | 1,110.21 | 478.32 | 631.89 | 95,032.07 |
| 9 | 1,110.21 | 475.16 | 635.04 | 94,397.03 |
| 10 | 1,110.21 | 471.99 | 638.22 | 93,758.81 |
| 11 | 1,110.21 | 468.79 | 641.41 | 93,117.40 |
| 12 | 1,110.21 | 465.59 | 644.62 | 92,472.78 |
| 13 | 1,110.21 | 462.36 | 647.84 | 91,824.94 |
| 14 | 1,110.21 | 459.12 | 651.08 | 91,173.86 |
| 15 | 1,110.21 | 455.87 | 654.34 | 90,519.52 |
| 16 | 1,110.21 | 452.60 | 657.61 | 89,861.91 |
| 17 | 1,110.21 | 449.31 | 660.90 | 89,201.02 |
| 18 | 1,110.21 | 446.01 | 664.20 | 88,536.82 |
| 19 | 1,110.21 | 442.68 | 667.52 | 87,869.30 |
| 20 | 1,110.21 | 439.35 | 670.86 | 87,198.44 |
| 21 | 1,110.21 | 435.99 | 674.21 | 86,524.23 |
| 22 | 1,110.21 | 432.62 | 677.58 | 85,846.64 |
| 23 | 1,110.21 | 429.23 | 680.97 | 85,165.67 |
| 24 | 1,110.21 | 425.83 | 684.38 | 84,481.29 |
| 25 | 1,110.21 | 422.41 | 687.80 | 83,793.49 |
| 26 | 1,110.21 | 418.97 | 691.24 | 83,102.26 |
| 27 | 1,110.21 | 415.51 | 694.69 | 82,407.56 |
| 28 | 1,110.21 | 412.04 | 698.17 | 81,709.40 |
| 29 | 1,110.21 | 408.55 | 701.66 | 81,007.74 |
| 30 | 1,110.21 | 405.04 | 705.17 | 80,302.57 |
| 31 | 1,110.21 | 401.51 | 708.69 | 79,593.88 |
| 32 | 1,110.21 | 397.97 | 712.24 | 78,881.64 |
| 33 | 1,110.21 | 394.41 | 715.80 | 78,165.85 |
| 34 | 1,110.21 | 390.83 | 719.38 | 77,446.47 |
| 35 | 1,110.21 | 387.23 | 722.97 | 76,723.50 |
| 36 | 1,110.21 | 383.62 | 726.59 | 75,996.91 |
How to use this calculator
Show the regular monthly student loan payment and amortization schedule. Enter amounts in the units shown, select the applicable options, and click Calculate. Use Reset to restore the starting values.
Calculation formula
Monthly payment amortizes the principal over the entered term.
Assumptions and accuracy
Review timing, rates, fees and result notes when comparing scenarios. Future returns and rates are assumptions rather than guaranteed outcomes. Monetary display follows the currency’s precision; intermediate calculations retain additional digits.
Choose what to calculate
Student loan payoff calculator
Estimate the effect of extra monthly, annual or one-time student-loan payments. This is a fixed-rate repayment model, not an income-driven repayment or forgiveness estimate.
Related searches: Student loan extra payment calculator · Student loan calculator extra payments
Open this calculationStudent loan interest calculator
Estimate the effect of extra monthly, annual or one-time student-loan payments. This is a fixed-rate repayment model, not an income-driven repayment or forgiveness estimate.
Open this calculationUnderstanding this calculation
Estimate fixed student-loan repayment, extra payments or an in-school borrowing projection. Distinguish the balance entering repayment from the amount originally borrowed.
Worked examples
A one-year student loan repayment illustration
Illustrative inputs are specified in the steps below; the example link loads the complete settings. Unmentioned settings use the linked defaults.
- At zero interest, twelve installments of 1,000 repay a 12,000 balance. This fixed-payment illustration does not model income-driven plans or forgiveness.
Payment per period: 1,000 USD.
Try these inputsMonthly repayment with a 12% nominal annual rate
Principal 12,000 USD; 12 monthly payments; 12% nominal annual rate with monthly compounding. Fees and taxes are zero in this scenario.
- Monthly rate = 12% / 12 = 1%.
- Payment = 12000 × 0.01 / (1 − 1.01^(−12)).
- Check both the installment and the schedule; the final installment may be limited to the remaining balance.
Payment per period: 1066.19 USD.
Try these inputsCommon questions
Can this calculate income-driven student loan payments?
The current modes model fixed-payment cash flows, not a complete income-driven repayment program.
How do extra student loan payments help?
When applied to principal, they reduce the balance on which later interest accrues. Actual servicer allocation and repayment rules need checking.
Scope and assumptions
This tool does not implement all income-driven repayment, forgiveness or subsidized-loan rules. In-school interest capitalization is a simplified scenario.
Sources
- Calculation methodology, rule versions and testing limitations
- Reference calculator for feature comparison (not a model-parity certification)
Calculation notes checked . Examples are mathematical checks under the stated assumptions.
Calculation methods and formulas
Normal Repayment
Show the regular monthly student loan payment and amortization schedule.
Monthly payment amortizes the principal over the entered term.
Solve payment
Solve one missing student loan variable from the other three.
Fixed monthly installment cash-flow equation.
Solve principal
Solve one missing student loan variable from the other three.
Fixed monthly installment cash-flow equation.
Solve rate
Solve one missing student loan variable from the other three.
Fixed monthly installment cash-flow equation.
Solve term
Solve one missing student loan variable from the other three.
Fixed monthly installment cash-flow equation.
Extra Repayment
Compare extra principal payments with the original repayment plan.
Simulate monthly principal reduction including extra payments.
Pay Off Altogether
Estimate the future interest avoided by paying off the balance now.
Interest avoided = remaining scheduled payments − current principal.
In-School Loan Projection
Project borrowing, in-school accrued interest, and the graduation repayment balance.
Borrow at each academic year start; accrue simple interest during school and grace, then capitalize once.
See our calculation methodology and review status for data versions, rounding and validation limitations.